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Indianapolis Law Blog

The financial implications of baby boomer divorces

No matter what age an individual is when he or she divorces, each is sure to face some periods of emotional and financial vulnerability. For baby boomers, though, discussions about finances might be a particularly stressful issue. Many have recently retired after working decades or have assets they are not looking to part ways with.

As if it were not already difficult for breadwinners that are divorcing to swallow the idea of having to split half of their assets with or having to pay alimony to their exes, imagine if they're having to consider doing so as they're looking to retire. At a time when monthly retirement payments are a mere fraction of what they were receiving while actively working, this can mark a very scary time in their lives.

Fight back against a DUI in Indiana

Drunk driving charges are matters that mustn't be ignored, even though it is fully understandable that you might want to just pretend that the incident never happened. We know that you might want the charges to just go away. The bad news is that this isn't likely going to happen. The good news is that drunk driving charges come with the right to present a defense, just like any other criminal charge.

We know that you might have some questions about what you can do. You might want to know what options you have. Even if you acknowledge that you were drinking and driving, you can still take action. One of the first things that you need to do is find out what rights you have, such as the right to not answer questions or make statements unless your attorney is present, so you can ensure those rights are protected.

3 commonly asked questions about divorce mediation

As you prepare for divorce, you might be considering your best course of action. If you and your spouse are still able to be cordial and amicable, mediation is one option. Mediation is particularly helpful if you wish to avoid the stress and costs of going through court – but it is not the right choice for everyone.

How do you know if mediation is right for you? Keep reading to see answers to frequently asked questions about divorce through mediation.

Appointment and responsibilities of guardians

In the absence of children having a parent present and responsible for their care and to make legal decisions for them, a guardian may be appointed to handle that daunting task.

There are two types of guardians, those appointed by a judge and those selected by the family. In either case, the minor child is referred to by the state as a "ward" of the guardian.

Divorces sometimes take teams to get everything in order

One of the difficult points of going through a high asset divorce is having to divide up those assets. This is difficult because you have to determine the value of each asset, which isn't necessarily the total of the asset at this point in time.

Some assets, such as retirement accounts, have special considerations when you need to know the value of the assets. You can't just look at the amount on the most recent statement and think that is the end of it. Instead, you need to have the assets valuated so that you can ensure you get your share of those assets.

Don't let property division leave you 'barking' mad

Dividing marital assets. To many going through divorce, this process is one of the most frustrating, oftentimes only overshadowed by child custody arrangements. This isn't surprising considering the fact that it can be difficult for most people to see roughly half of what they own go to their soon-to-be ex-spouse.

Unfortunately, what can make this process turn even more tumultuous is the involvement of pets. Oftentimes considered part of the family, pets present divorcing couples with a unique legal situation that may not result in the outcome many anticipate.

Could you lose your inheritance in your divorce?

In Indiana, the general rule that's followed when it comes to marital assets is that everything that a couple earns or acquires after they get married gets put together in one pot, to be divided up if they divorce as equally as possible.

Property that's received as part of a gift or an inheritance that is given to just one spouse is normally considered separate property.

Summer vacation planning is essential for divorced parents

Now that spring break is nearly over, it's time for divorced parents to start thinking about how their children will be spending their summer vacation. If you listened to an experienced family law attorney during your divorce, you have already determined how your children will spend all of their holiday and vacation breaks. This can help you and your ex avoid fights and potentially make these times that should be fun for your kids stressful.

Whether you've codified how your kids will spend their summers in your parenting plan or not, how you and your ex handle them can have a big impact on your kids' well-being -- and your own.

Know your options and carefully plan your defense

When you are facing criminal charges, you have to think about how they will impact your future. The effects of a conviction might be far-reaching, so you have to plan accordingly. We know that you might have some questions about your case. We can help you to get the answers to those so that you know what you are working with.

One thing that you have to remember when you are facing charges is that you can present a defense. This is a universal right for all defendants, so don't think that you have to just roll over and admit you did what you were accused of doing.

Can you include digital assets in your estate planning?

Digital assets aren't tangible things you can physically pass on to another person, but that doesn't mean you don't want to include them in your estate plans. In some cases, your digital assets might even come with monetary value, which means you might want to work with an estate law professional to include them in your will for distribution to your heirs.

A digital assets is specifically any type of electronic record -- online or off -- for which someone has an ownership interest. Your Facebook account is a digital asset; you have an ownership or control interest in that account. If you create a blog or website, those are digital assets, as are your online bank accounts. Even your personal Amazon account could be considered a digital asset.